UNITED STATES May 18 2016 10:27 PM
NEW YORK (Scrap Register): Gold continues to shine, up some 20% year-to-date, and one famed trends forecaster remains positive on the metal.
Gerald Celente maintains their forecast that should gold stabilize above $1,400 per ounce, they anticipate a sharp gold spike toward $2,000.
“With gold demand up some 21 percent this year, according to the World Gold Council, and gold prices up over 20 percent since the start of the year, even the banksters see gold glowing,” said the analysts at Gerald Celente.
After hitting $1,300 an ounce earlier this month, gold futures have struggled to breach above that level with June gold last trading at $1,274 an ounce, down $2.90 on the day.
However, analysts are now becoming more optimistic on the yellow metal as more uncertainty develops in equity markets, Europe with the Brexit referendum looming as well as, to some extent, the U.S. presidential election.